Piedmont Lithium price plunges 20pc, goes into trading halt

Piedmont Lithium price plunges 20pc, goes into trading halt on 'project block' threat


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Piedmont Lithium’s shares plunged nearly 20% yesterday after claims the company has repeatedly delayed seeking approval from Gaston County in North Carolina for its proposed lithium mine.
In 2020 Piedmont signed a $840 million deal with Tesla which caused its stock to soar, with its proposed lithium mine to be the largest in the US.
The company told investors on June 9 that a rezoning application would proceed following additional pre-application consultation with Gaston County and community leaders following publication of its scoping study results.
But five out of seven county officials have now stated they may block or delay the project because Piedmont has failed to inform them about the mine’s potential environmental impacts – including effects on noise, dust, vibrations, water and air quality.

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